Lori,

Summer is here! And during these few months SBA doesn’t put out a steady stream of changes and updates – though there are some that you should be aware of (links below).



And – this is a great time to review topics everyone knows – but might need a bit of a reminder about. With all the changes SBA puts out at other times of the year, the things that stay the same can fade into the background. Are you using – or losing – your SBA team’s knowledge?

SBA 7(a) Quarterly Connect Calls 2024 dates and links: July 9, 2024; Oct. 8, 2024

SBA 504 Quarterly Connect Calls 2024 dates and links: Sept. 19, 2024; Dec. 10, 2024



SBA Procedural Notice 5000-857477: Updates to SOP 50 10 7.1 and SOP 50 45 3 Related to the Criminal Justice Final Rule effective 5/31/2024

SBA Procedural Notice 5000-858322: 7a and 504 loans to Cooperatives and valuation requirements for 7a loans to ESOPs for changes of ownership effective 6/24/2024

SBA Form 1919 - Criminal Justice Rule Updates-Final issued 6/26/2024

Recertification for SBA CAFS System

IMPORTANT: 

Mandatory SBA CLS account Recertification starts June 17, 2024 and ends July 17, 2024. The process is available electronically through the Security Recertification module. SBA COR, SBA Official and Partner Authorizing Officials are required to recertify users’ accounts and access rights. Accounts created prior to June 17, 2024 that are not recertified by the end of the recertification period will be removed from SBA CAFS system with no further notice.

Working capital. We talk about it a lot with our clients during our SBA training sessions.

It might be a discussion in one of the lender SBA training sessions we host, or a review finding, a Lender SBA Consulting question, or SBA loan liquidation work. Let’s just say that working capital comes up a lot, and there’s plenty of discussion around it!  

And since the new SOPs have changed some of the guidelines on working capital, let’s recap.

SBA Consultant

We all have that thing – you know, the thing that keeps our attention, that energizes and challenges us. 

When I was a kid, it was the challenge of a difficult jigsaw puzzle. This is old news to colleagues who have known me through my 25 years of SBA experience, but SBA lending is a lot like working a jigsaw puzzle. The SOPs are the edge pieces, and the loan request is the center. You gather documents, review and analyze credit, and structure the deal – all to get everything to fit within the border pieces.

Working capital issues. Structuring (and restructuring) loans. Managing delinquencies and workouts. Liquidating a file. Yikes.

Staying fresh is important. If your team isn’t focused primarily on SBA lending, they can lose the knowledge they’ve established. Summer is a great time to schedule training – or to call us in to backfill when everyone on your team takes their vacation at the same time!



Give us a call at 877.576.0819, or reach out through our Contact form and we’ll talk!

Your Team at LRM Lender Consultants,